Advising French industrial gases group Air Liquide on its £1.8bn takeover of Messer Griesheim’s operations in Germany, the UK and the US, and UK house-builder Taylor Woodrow on a £480m buy-out of Wilson Connolly Holdings brought FD back to the number one spot after a three-month absence (PRWeek, 9 October 2003).
Another big climber last month was Bell Pottinger Financial, which moved up to third place from eighth. BPF advised UK commercial property company Chelsfield on the £1.7bn agreed takeover by takeover vehicle Duelguide.
Although last month’s leader Brunswick falls to second place, it remains near the top for its work advising Powergen on its £1.1bn acquisition of Aquila Sterling from Aquila Inc and FirstEnergy Corporation.
January also saw three new entries to the top ten: Hudson Sandler, which advised Duelguide on the Chelsfield takeover; The Maitland
Consultancy, which advised Tesco on a £781m share placing; and M Communications, which advised Electra Investment Trust on the sale to BC Partners of its stake in home heating company Baxi Group.
But M&A activity in January dropped significantly, with the top ten deals coming to just £15.7bn, less than half that of December.